Should AVAX [Avalanche] be a ‘must-have’ in your crypto portfolio
Betty Botter had some butter, but, she said, “this butter’s bitter. If I bake this bitter butter, it would make my batter bitter.”
Take ‘butter’ for tokens and ‘batter’ for your portfolio, does this tongue twister make sense then. Booyakasha! In all probability, it does. Undeniably, the educated choice of coins can massively increase the value of your portfolio. But hold on, what about the bear markets.
As American-British investor John Templeton puts it, “For those properly prepared, a bear market is not a calamity but an opportunity.” On this thought, you may rather load up on a bit of crypto snow. And, that’s where comes a sixty-four-thousand-dollar question- Could AVAX be your ‘knight in shining armor?’
You wonder what’s that one factor (besides others) that determines how well the cryptocurrency will fare during the bear market. Well, it is the amount of money the project has raised post-ICO. Intriguingly, Avalanche seems to have outdone its plebian brothers, in this regard. In fact, the big announcement in mid-April had investors in awe after Ava Labs raised $350 million from numerous crypto venture capitalists. Thus, bringing Avalanche’s total post-ICO funding up to almost $700 million.
However, the funding couldn’t help AVAX save itself from a gradual downfall in April. To tell the truth, on 24 May, the token was as much as 15% down in a 24-hour span while its competitors were at a 4-5% loss. Indeed, the token got caught up in the UST mayhem thanks to the Luna Foundation Guard.
Dolefully, at the time of this press, AVAX was changing wallets at $22.91 with a 3.66% decline over the last day. But, a permabull who is planning to go long would find contentment to know that Avalanche’s three blockchains, at press time, were
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